As healthcare premiums continue to increase, we are always looking for unique solutions to mitigate these costs across the board.

A long-term client with just under 100 insured employees was facing a 13.5% annual increase to their fully insured medical premium. They were looking for a different solution in order to curb the rising cost of their health care.

We explored various options, and the group decided to join a benefit captive. Their health insurance program includes a TPA with a provider network and a Pharmacy Benefits Manager. In addition, we have implemented a wellness program with employee premium incentives, a near-site clinic, and various other cost containment programs.

When comparing costs with the captive program to what they likely would have been with trend renewals in a fully insured program, the group has saved over a million dollars in an 8 year period.